Accounting Blog

Preparing your first UK Self Assessment tax return doesn’t have to be stressful. This practical guide explains who needs to file, how to register, what records to gather, allowable expenses, deadlines, and common pitfalls. Learn how to organise your finances, avoid penalties, and file confidently with a clear, step-by-step approach.

Earning under the personal allowance as a UK sole trader doesn’t always mean no tax admin. This guide explains profit versus turnover, when Income Tax is nil, why National Insurance and Self Assessment may still apply, and when filing a return can protect your records, benefits, and future tax position.

Working with overseas clients raises common VAT questions for freelancers and businesses. This guide explains when you need to charge VAT, when reverse charge applies, and how B2B vs B2C, place of supply, and digital services rules affect overseas invoices and VAT compliance.

Working from a kitchen table or shared space doesn’t automatically block a home office claim. This guide explains what “use of home as office” really means, how employee and self-employed rules differ, which expenses may be claimed, and how to choose a defensible method without a dedicated room setup options.

Unsure whether you need to register as self-employed with HMRC? This guide explains what self-employment really means, when registration is required, how side hustles and freelancing are treated, and what happens after you register, helping you avoid missed deadlines, penalties, and unnecessary tax stress as a new UK sole trader.

When do sole traders really start paying tax? This guide explains how UK self-employed tax actually works, from registering with HMRC to understanding profit, personal allowance, National Insurance, Self Assessment deadlines, and payments on account—so you know what triggers tax, when money is due, and how to plan cash flow.

Payments on account explain how self-employed people pay tax in advance, spreading bills across the year instead of one lump sum. Learn who must pay, how amounts are calculated, why the system exists, and how to manage cash flow, avoid shocks, and plan confidently for future tax liabilities.

Sole traders can often claim training costs, but deductibility depends on purpose. Courses that update or improve skills used in your existing trade are usually allowable, while training for a new profession is not. This guide explains the rules, examples, grey areas, and record keeping essentials for self employed readers.

Can small business owners do their own bookkeeping? Yes—especially early on. This guide explains what DIY bookkeeping really involves, when it makes sense, common mistakes to avoid, and how to set up a simple, reliable system that saves money, supports taxes, and gives you clear financial insight for growth decisions.